The National Student Financial aid scheme for South African students known as NSFAS has introduced a new way of funding higher institution students. As part of the digital transformation at the national student financial aid scheme, all NSFAS beneficiaries at universities and TVET colleges will start receiving their allowances through the new NSFAS bank cards as of the June 2023.
All the distributing partners namely, coinvest, ezaga, narraco, tente technology have started distributing student’s allowances in their NSFAS bank cards as of June 2023.
Over one million students have been confirmed as beneficiaries for the 2023 academic year. All South African university students have started receiving their funding through the National student Financial aid scheme bank cards. Beneficiaries receive money for food, Transport and other living expenses.
The National student financial aid scheme bank cards were first introduced to TVET college students in 2022 and has now been extended to university students since 2023 June.
The new NSFAS bank cards have been widely critiques students, with many saying the bank charges related to the accounts are too high.
The Minister of Higher Education Blade Nzimande said that it is now better to have bank cards as it makes it easier for everyone to receive their allowances on time and it also makes it harder for students to misuse the money as students will not be able to use the card at alcohol stores.
Some beneficiaries have also complained about late payments or none at all and the department responded to this by saying “we will not allow a system that was established in good faith be muddled with activities that defeats the purpose of direct payment. ”As such, to begin addressing complaints, NSFAS will be launching an investigation into the complaints and where the allegations are proven true, appropriate action will be taken.”
“Service providers will be instructed to increase their physical presence at institutions of higher learning so that they can respond directly to student queries on direct payment,” they added.
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Written by: Mpho Sonia Masanabo
Images: Supplied
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